Elmhurst Real Estate Market Conditions – June 2017

Elmhurst Real Estate Market

The Elmhurst Real Estate Market continues to perform well in June with increasing home sales and decreasing market times despite the extremely low inventory levels.

Elmhurst Market Times

Single family home market times in Elmhurst had a decrease in June. Homes were on the market for 70 days compared to 87 days last year at the same time, a 19.5% decrease. The time a condo/townhome stayed on the market decreased 16% with 68 days this June, compared to last year when it was 81 days.Elmhurst Real Estate Market market times

Elmhurst Months Supply

Single family homes inventories in Elmhurst had 4.6 months of supply at the end of June, a 6.1% decrease compared to last year at this time when the months supply was 4.9. The supply of condos and townhomes decreased from 3.1 months last year to 2.5 months supply this year. These are extremely low inventory levels.Elmhurst Real Estate Market months supply

Elmhurst Homes For Sale

At the end of June there were 240 single family homes for sale in Elmhurst, a slight 1.6% decrease from last June when there were 244 homes for sale. The number of condos and townhomes for sale decreased 28% with 18 for sale at the end of June 2017 compared to 25 in June 2016.Elmhurst Real Estate Market homes for sale

Elmhurst New Listings

New listings in Elmhurst increased in June. Single family homes had 132 new listings compared to 117 listed in June 2016, an increase of 12.8%. New listings for condos and townhomes had more than a 114% increase with 15 listed for sale this June compared to 7 new listings at the same time last year.Elmhurst Real Estate Market new listings

Elmhurst Real Estate Closings

The number of single family home closings increased more than 30% with 81 closings this June, compared to 62 closings last June. Condo and townhome closings increased more than 37% with 11 closings compared to 8 closings last June.Elmhurst Real Estate Market closed sales

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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